Skip to main content

Posts

Showing posts with the label Michael Prest

NIGERIAN BILLIONAIRE BATTLES BRITISH WIFE OVER $21 MILLION DIVORCE PAYOUT

A wealthy Nigerian-born, British-based oil baron has been granted permission to use Nigerian tribal law to appeal a $21 million divorce payout to his former British wife, the Telegraph has reported . Michael Prest, the 50 year-old founder of Nigerian energy trading firm Petrodel Resources , split from his wife in an acrimonious divorce in 2008. During a British High Court hearing on the divorce in October last year, the presiding judge ordered the tycoon to pay his former wife cash and assets worth over $20 million.     However, Prest has applied to appeal the court’s decision on the grounds that his Petrodel’s assets do not belong to him, but are held in trust for his children,